Ryder System (NYSE:R) Updates FY24 Earnings Guidance

Ryder System (NYSE:R) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $11.75-12.50 for the period, compared to the consensus earnings per share estimate of $11.69. Ryder System also updated its FY 2024 guidance to 11.750-12.500 EPS.

Ryder System Trading Up 0.2 %

Shares of NYSE:R opened at $122.39 on Friday. Ryder System has a 12-month low of $76.15 and a 12-month high of $123.45. The business’s fifty day simple moving average is $114.74 and its 200-day simple moving average is $110.74. The company has a market capitalization of $5.36 billion, a PE ratio of 15.94 and a beta of 1.40. The company has a current ratio of 0.82, a quick ratio of 0.62 and a debt-to-equity ratio of 2.22.

Ryder System (NYSE:R) last announced its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.43. Ryder System had a return on equity of 18.38% and a net margin of 2.95%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the business posted $2.81 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts predict that Ryder System will post 11.9 earnings per share for the current fiscal year.

Ryder System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, February 16th. This represents a $2.84 annualized dividend and a yield of 2.32%. Ryder System’s dividend payout ratio (DPR) is 36.98%.

Analyst Ratings Changes

R has been the topic of several research analyst reports. Stephens boosted their target price on Ryder System from $113.00 to $120.00 and gave the stock an equal weight rating in a research note on Wednesday. Robert W. Baird restated a buy rating and set a $140.00 target price on shares of Ryder System in a research note on Wednesday, January 3rd. StockNews.com upgraded Ryder System from a hold rating to a buy rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Ryder System from $122.00 to $135.00 and gave the company a buy rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on Ryder System from $100.00 to $120.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Ryder System currently has a consensus rating of Hold and an average price target of $123.71.

Insider Activity

In other news, CMO Karen M. Jones sold 7,737 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $113.48, for a total value of $877,994.76. Following the completion of the transaction, the chief marketing officer now owns 12,396 shares of the company’s stock, valued at approximately $1,406,698.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.10% of the company’s stock.

Ryder System Company Profile

Ryder System, Inc operates as a logistics and transportation company worldwide. It operates through three segments: Fleet Management Solutions (FMS), Supply Chain Solutions (SCS), and Dedicated Transportation Solutions (DTS). The FMS segment offers full-service leasing and leasing with flexible maintenance options; commercial vehicle rental services; and contract or transactional maintenance services of trucks, tractors, and trailers; access to diesel fuel; and fuel planning and tax reporting, cards, and monitoring services, and centralized billing, as well as sells used vehicles through its retail sales centers and www.ryder.com/used-trucks website, as well as digital and technology support services.